IT Spending in Australia to Grow at a CAGR of More Than 6% During 2015-2019

Albany, NY -- (SBWIRE) -- 06/03/2016 -- Australia has a very supportive legal and regulatory framework and strong IT infrastructure. IBM, Cisco, Alcatel-Lucent, CSC, and Avaya, which are all major IT vendors, have located their R&D and technical assistance facilities in Australia. Technavios market research analyst expects the IT spending in Australia to grow at a CAGR of more than 6% during the forecast period. The major adopters of IT in this region are industries such as BFSI, manufacturing, mining, telecommunications, healthcare, life sciences, pharmaceuticals, education, and retail.

The Australian government is making a massive investment in technology to improve ICT infrastructure and thereby increase trade in the country. This initiative taken by the government is a major driver for the growth of IT spending in Australia. The approach of the Australian Government to improve government operations includes several policies on the efficient and innovative use of technology in ICT infrastructure development.

Segmentation by technology and analysis of the IT spending in Australia
- IT services
- Hardware
- Software

IT services is the largest segment of the market in Australia, constituting a market share of about 59% as of 2014. This segment is also one of the fastest-growing segment of the global IT market. IT services spending is usually less affected by economic uncertainties, such as inflation and recession. Hence Australian firms make large investments in this segment, depending on their IT budget allocation.

Competitive landscape and key vendors

The IT spending market in Australia is thriving successfully. Hence, it offers immense growth opportunities for many suppliers, supporting IT products such as hardware, software, and services. The key vendors, with their broad portfolios of services, solutions, and products, have a significant hold over the market and a strong base in the country.

- What will the market size and the growth rate be in 2019
- What are the key factors driving the IT spending in Australia
- What are the key market trends impacting the growth of the IT spending in Australia
- What are the challenges to market growth
- Who are the key vendors in the IT spending in Australia
- What are the market opportunities and threats faced by the vendors in the IT spending in Australia
- What are the key outcomes of the five forces analysis of the IT spending in Australia

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